Cassini Resources Limited: Assays Confirm Potential of H-T Lode at Babel

(firmenpresse) - Assays Confirm Potential of H-T Lode at Babel

HIGHLIGHTS-
- Extension drilling at the Babel Deposit intersects broad zone of nickel and copper mineralisation - 25.6m (at) 0.63% Ni, 1.04% Cu
- Probable offset of the Startmeup Shoot
- DHEM indicates mineralisation may extend over 300m
- Follow-up drilling planned to test strike extensions
- Potential positive implications for Babel development scenarios

Cassini Resources Limited (ASX:CZI) (Cassini or the Company) is pleased to announce early success from extension drilling at the Babel Deposit, part of the West Musgrave Project (WMP or the Project) in Western Australia. The program is funded as part of the Earn-in/JV Agreement (JV or the Agreement) with OZ Minerals Limited (ASX:OZL) (OZ Minerals). The JV Partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel Deposits with a concurrent regional exploration program. This announcement follows the reporting of visual observations from drilling on 21 June 2018.

The H-T Lode
Diamond drillhole CZD0077 is the first hole to test a strong Moving Loop Electromagnetic (MLEM) and coincident Down Hole Electromagnetic (DHEM) conductor representing an extension to the Babel Deposit. The hole has intersected 25.6m (at) 0.63% Ni, 1.04% Cu, 0.03% Co, 0.23g/t PGE and 0.11g/t Au from 317.3m, hosted with a 34m zone of gabbronorite.

This hole is consistent with the nearest drill hole, WMN4049, with an intercept of 25.1m (at) 0.94% Ni & 0.94% Cu, 0.03% Co, 0.28g/t PGE and 0.11g/t Au from 311.6m. This intercept lies approximately 50m east of CZD0077 (Figure 1).

This mineralised zone known as the H-T Lode appears to be the faulted extension of the Startmeup Shoot and demonstrates a similar style of mineralisation, grade and geometry (Figure 1). The H-T Lode now represents a significant target as an extension to the proposed Babel open pit design either by cut-back or through underground mining.

http://www.irw-press.at/prcom/images/messages/2018/44039/180717 H-T Lode results-eng_PRCOM3.001.jpeg

Figure 1. H-T Lode Plan showing location and intercepts of CZD0077 and WMN4049.

The JV Partners are encouraged with this early success to the resource extension program which demonstrates the potential up-side to the existing Nebo-Babel resource.

The diamond rig is currently drilling other extension and infill targets at Nebo and Babel. A follow-up hole will be drilled to test mineralisation along strike to the west, which is currently open, following completion of DHEM and geological interpretation. A second diamond rig has recently started drilling at the One Tree Hill Prospect following the Companys systematic plan for regional exploration throughout 2018 (Figure 2).

Table 1. CZD0077 Significant drill intercepts.
HOLE IDEast NorthRL DipAziEOH INTERSECTIONS
(m)

FromWidtNi Cu Co PGE Au
(m)h % % % g/t g/t
(m)

CZD00773683271117468-70360399.317.25.60.61.040.00.23 0.11
9 61 5 3 3 3

http://www.irw-press.at/prcom/images/messages/2018/44039/180717 H-T Lode results-eng_PRCOM3.002.jpeg

Figure 2. Summary of exploration programs for 2018.

For further information, please contact:
Richard Bevan
Managing Director

Cassini Resources Limited
Telephone: +61 8 6164 8900
E-mail: admin(at)cassiniresources.com.au

About the Company
Cassini Resources Limited (ASX: CZI) is a base and precious metals developer and explorer based in Perth. In April 2014, Cassini acquired its flagship West Musgrave Project (WMP), located in Western Australia. The Project is a world-class asset which currently has over 1.0 million tonnes of contained nickel and 2.0 million tonnes of contained copper in Resource. The Project is a new mining camp with three existing nickel and copper sulphide deposits and a number of other significant regional exploration targets already identified. The WMP is the largest undeveloped nickel - copper project in Australia.

In August 2016, Cassini entered into a three-stage $36M Farm-in/Joint Venture Agreement with prominent Australian mining company OZ Minerals Ltd (ASX: OZL). The Joint Venture provides a clear pathway to a decision to mine and potential cash flow for Cassini.

Cassini is also progressing its Mt Squires Gold Project, an early stage zinc exploration project in the West Arunta region and also has an option to acquire 80% of the Yarawindah Nickel - Copper - Cobalt Project, all located in Western Australia.

Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled or reviewed by

Mr Greg Miles, who is an employee of the company. Mr Miles is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Miles consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

The Company is not aware of any new information or data, other than that disclosed in this report, that materially affects the information included in this report and that all material assumptions and parameters underpinning Exploration Results, Mineral Resource Estimates and Production Targets as reported in the market announcements dated 3 April 2014, 1 May 2017, 14 November 2017 continue to apply and have not materially changed.

ANNEXURE 1:
The following Tables are provided to ensure compliance with the JORC Code (2012) edition requirements for the reporting of the Exploration Results at the Babel deposit.

Section 1: Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
Sampling Nature and quality of Samples are currently
techniques sampling being prepared and will
( comprise half core to
eg cut channels, random lengths no longer than
chips, or specific 1m and separated by
specialised industry geological boundaries
standard measurement where appropriate.
tools appropriate to Portable XRF has been
the minerals under used to confirm the
investigation, such as presence of nickel and
down copper mineralisation
but is not considered
hole gamma sondes, or suitable for public
handheld XRF release.
instruments,

etc). These examples
should not be taken as
limiting the broad
meaning of
sampling.

Include reference to Drill hole locations
measures taken to were surveyed by
ensure sample handheld GPS units.
Sampling has been
representivity and the carried out under
appropriate Cassini protocols and
calibration of any QAQC procedures as per
measurement tools or industry best
systems practice.
used.

Aspects of the Diamond drilling was
determination of used to obtain
mineralisation that approximately 1m
are Material to the samples from which 3 kg
Public Report. In will be pulverised
cases where industry (total prep) to produce
standard work has a sub sample for
been done this would analysis by four acid
be relatively simple digest with an ICP/AES
( or ICP/MS finish (0.25
eg reverse circulation gram) for base metals
drilling was used to or a FA/AAS finish (40
obtain 1 m samples gram) for Au,
from which 3 kg was
pulverised to produce Pt and Pd.
a 30 g charge for fire

assay). In other cases
more explanation may
be required, such as
where there is coarse
gold that has inherent
sampling problems.
Unusual commodities or
mineralisation types
(
eg submarine nodules)
may warrant disclosure
of detailed
information.

Drilling Drill type (e.g. core, Diamond drilling
techniques reverse circulation, accounts for 100% of
open-hole hammer, the drilling completed
rotary air blast, by Cassini and
auger, Bangka, sonic comprises
PQ3 and HQ3 diameter
etc) and details (e.g. core
core diameter, triple samples.
of standard tube,
depth of diamond
tails, face-sampling
bit or other type,
whether core is
orientated and if so,
by what method,

etc).
Drill Method of recording and Overall core recoveries
sample assessing core and are >95% and there has
recovery chip sample recoveries been no significant
and results sample recovery
assessed. problems

Measures taken to Samples are routinely
maximise sample checked for
recovery and ensure recovery
representative nature ..
of the
samples.

Whether a relationship No sample bias has been
exists between sample observed
recovery and grade and
whether sample bias
may have occurred due
to preferential
loss/gain of
fine/coarse
material.

Logging Whether core and chip All core will be
samples have been geologically logged and
geologically and the level of
understanding of
geotechnically logged geological variables
to a level of detail increases with the
to support appropriate maturity of the
Mineral Resource prospect. The level of
estimation, mining understanding is
studies and considered sufficient
metallurgical to include in future
studies. resource
estimates

Whether logging is Logging at the West
qualitative or Musgrave Project
quantitative in records lithology,
nature. Core (or mineralogy,
costean, channel, mineralisation,
weathering, colour and
etc) photography. other relevant features
of the samples. Logging
of core is both
qualitative (e.g.
colour) and
quantitative (e.g.
mineral percentages).


The total length and The drillhole will be log
percentage of the ged in
relevant intersections full.
logged.

Sub-samplingIf core, whether cut or Half core will be
techniques sawn and whether sampled.
and sample quarter, half or all
core
preparation taken.

If non-core, whether Not applicable.
riffled, tube sampled,
rotary split,

etc and whether sampled
wet or
dry.

For all sample types, The sample preparation
the nature, quality of diamond samples at
and appropriateness of Babel follows industry
the sample preparation best practice in sample
technique. preparation involving
oven drying, followed
by pulverisation of the
entire sample (total
prep) using

Essa LM5 grinding mills
to a grind size of 90%
passing 75
micron

Quality control Field QC procedures
procedures adopted for involve the use of
all sub-sampling certified reference
stages to maximise material (CRM) as assay
standards and blanks
representivity of along with field
samples. duplicates. The
insertion rate of these
will average 1:15 with
an increased rate in
mineralised
zones

Measures taken to Quarter core duplicate
ensure that the sampling will be 1-2%
sampling is of total
representative of the sampling
in situ material
collected, including
for instance results
for field
duplicate/second-half
sampling.

Whether sample sizes Sample sizes are
are appropriate to the considered appropriate
grain size of the for the rock type,
material being style of mineralisation
sampled. (massive sulphides),
the thickness and
consistency of the
intersections, the
sampling methodology
and

percent value assay
ranges for the primary
elements at
Babel.

Quality of The nature, quality and The analytical
assay data appropriateness of the techniques used fused
and assaying and bead XRF for base
laboratory laboratory procedures metals and all other
tests used and whether the major and trace
technique is elements of interest.
considered partial or Gold,
total.
Pt and Pd (PGE) were
determined by FA/AAS
finish (40
gram).

For geophysical tools, Hand held assay devices
spectrometers, have not been
handheld XRF reported.
instruments,

etc, the parameters
used in determining
the analysis including
instrument make and
model, reading times,
calibrations factors
applied and their
derivation,
etc.

Nature of quality Sample preparation for
control procedures fineness were carried
adopted by the laboratory as
( part of their internal
eg standards, blanks, procedures to ensure
duplicates, external the grind size of 90%
laboratory checks) and passing 75 micron was
whether acceptable being
levels of accuracy
( attained. Laboratory
ie lack of bias) and QAQC involves the use
precision have been of internal lab
established. standards using
certified reference
material, blanks,
splits and replicates
as part of the in-house
procedures.

Certified reference
materials, having a
good range of values,

are inserted blindly and
randomly.


Repeat or duplicate
analysis for samples

will be reviewed.
VerificationThe verification of Core has been viewed by
of significant contract and Cassini
sampling intersections by geology
and either independent or staff.
assaying alternative company
personnel.

The use of twinned The reported drill hole
holes. ha
s not been twinned.
Documentation of Primary data collected
primary data, data for the West Musgrave
entry procedures, data Project using a set of
verification, data standard Field Marshal
storage (physical and templates on laptop
electronic) computers using lookup
protocols. codes. The information
was sent to

Geobase Australia for
validation and
compilation into a SQL
database
server.

Discuss any adjustment No assay data has been
to assay adjusted
data.

Location of Accuracy and quality of Reported holes have been
data surveys used to locate located with a Garmin
points drill holes (collar hand-held GPS and are
and down-hole assumed to be accurate
surveys), trenches, to ±5m. This is
mine workings and considered appropriate
other locations used for exploration drill
in Mineral Resource holes.
estimation.
Downhole surveys were
completed every 5m
using north-seeking
gyroscopes after

hole completion. Stated
accuracy is ± 0.25° in
azimuth and ± 0.05° in
inclination
..
Specification of the The grid system for the
grid system West
used.
Musgraves Project is
MGA_GDA95, Zone
52.

Quality and adequacy of The tenement package
topographic exhibits subdued relief
control. with undulating hills
and topographic
representation is
sufficiently
controlled.

Data Data spacing for Holes have been targeted
spacing reporting of for exploration purposes
and Exploration and have not been
distributio Results. drilled on a grid
n pattern. Drill hole
spacing is considered
appropriate for
exploration purposes.


Whether the data The mineralised domains
spacing and for
distribution is
sufficient to both Nebo and Babel have
establish demonstrated

the degree of sufficient continuity in
geological and grade both geological and
continuity appropriate grade continuity to
for the Mineral support the definition
Resource and Ore of Mineral Resources
Reserve estimation and Reserves, and the
procedure(s) and classifications applied
classifications under the 2012 JORC
applied. Code.

Whether sample No compositing was
compositing has been applied.
applied.

Orientation Whether the orientation The drill holes are
of data in of sampling achieves drilled towards local
relation unbiased sampling of grid north and
to possible structures northwest at -70° dip
geological and the extent to to intersect the
structure which this is known, mineralised zones at a
considering the close to perpendicular
deposit relationship for the
type. bulk of the target
conductor

The orientation of
sampling is considered
to be unbiased.


If the relationship The orientation of
between the drilling drilling and key
orientation and the mineralised structure
orientation of key is not considered to
mineralised structures have introduced
is considered to have sampling bias.
introduced a sampling
bias, this should be
assessed and reported
if
material.

Sample The measures taken to Sample chain of custody
security ensure sample is managed by Cassini.
security. Samples for the West

Musgraves Project are
stored on site and
delivered to Perth by
recognised freight
service and then to the
assay laboratory by a
Perth-based courier
service. Whilst in
storage the samples are
kept in a locked yard.


Audits or The results of any No reviews have been
reviews audits or reviews of carried out to
sampling techniques date.
and
data.

Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)
Criteria JORC Code explanationCommentary
Mineral tenement Type, reference Babel is located
and land tenure name/number, within Mining
status location and Leases M69/0072 and
ownership including M69/0073. Through
agreements or wholly owned
material issues subsidiary
with third parties
such as joint Wirraway Metals and
ventures, Mining Pty Ltd,
partnerships, Cassini holds 100%
overriding of the leases
royalties, native comprising the West
title interests, Musgrave Project
historical sites, (granted licences
wilderness or M69/0074, M69/0075,
national park and E69/1505, E69/1530,
environmental E69/2201, E69/2313,
settings. E69/3137,

E69/3163, E69/3164,
E69/3165, E69/3168,
E69/3169) over
which the previous
operator retains a
2% NSR. The
tenement sits
within Crown
Reserve
17614.

The security of the All tenements are in
tenure held at the good standing and
time of reporting have an existing
along with any Aboriginal Heritage
known impediments Access Agreements
to obtaining a in place. No Mining
licence to operate Agreement has been
in the negotiated.
area.

Exploration done by Acknowledgment and Previous exploration
other appraisal of has been conducted
parties exploration by by BHP Billiton and
other WMC. The work
parties. completed by BHP
Billiton and WMC is
considered by
Cassini to be of a
high standard.


Geology Deposit type, The project lies
geological setting within the West
and style of Musgrave Province
mineralisation. of Western
Australia, which is
part of an
extensive

Mesoproterozoic oroge
nic
belt. The
Nebo-Babel and
Succoth deposits
lie within mafic
intrusions of the
Giles Complex
(1068Ma) that has
intruded into
amphibolite

facies orthogneiss co
untry rock.

Mineralisation is
hosted within
tubular

chonolithic gabbronor
ite
bodies and are expre
ssed primarily as
broad zones of
disseminated
sulphide and

comagmatic or
potentially
remobilised
accumulations of
stronger
mineralised, matrix
to massive
sulphides.


Drill hole A summary of all CZD0077 collar
Information information information:
material to the
understanding of EastNorthRL AziDip
the exploration 368371117470360-66
results including a 30 60
tabulation of the The hole was drilled
following to a depth
information for all of
Material drill 399.5m
holes:

· easting and
northing of the
drill hole
collar

· elevation or RL
(Reduced Level -
elevation above sea
level in metres) of
the drill hole
collar

· dip and azimuth of
the
hole

· down hole length
and interception
depth

· hole length.
If the exclusion of Not applicable, all
this information is information is
justified on the included.
basis that the
information is not
Material and this
exclusion does not
detract from the
understanding of
the report, the
Competent Person
should clearly
explain why this is
the
case.

Data aggregation In reporting Weighted averages
methods Exploration for Babel
Results, weighting mineralisation were
averaging calculated using
techniques, maximum parameters of a
and/or minimum 0.25% Ni or Cu
grade truncations lower cut-off, no
( minimum reporting
eg cutting of high length, 6m maximum
grades) and cut-off length of
grades are usually consecutive
Material and should internal waste and
be the minimum grade
stated. for the final
composite of 0.2%
Ni.

Where aggregate Short lengths of
intercepts high grade results
incorporate short use either a
lengths of high nominal 1% Ni or Cu
grade results and lower cut-off or a
longer lengths of geological boundary
low grade results, such as a massive
the procedure used sulphide interval,
for such no minimum
aggregation should reporting length
be stated and some and 2m maximum
typical examples of interval dilution
such aggregations and the minimum
should be shown in grade of the final
detail. composite of 1% Ni
or
Cu

The assumptions used Metal equivalent
for any reporting values are not
of metal equivalent reported.
values should be
clearly
stated.

Relationship These relationships Mineralisation at
between are particularly Babel is a
important in the flat-lying,
mineralisation width reporting of south-westerly
s and intercept Exploration plunging body of
lengths Results. If the variably
geometry of the mineralised mafic
mineralisation with rock.
respect to the Mineralisation is
drill generally
intersected with
hole angle is known, approximate
its nature should true-width
be reported. If it down-hole lengths.
is not known and
only the down hole

lengths are
reported, there
should be a clear
statement to this
effect


(eg down hole
length, true width
not known).


Diagrams Appropriate maps and Refer to Figures in
sections (with body of text.
scales) and
tabulations of
intercepts should
be included for any
significant
discovery being
reported These
should include, but
not be limited to a
plan view of drill
hole collar
locations and
appropriate
sectional
views.

Balanced reporting Where comprehensive All results have
reporting of all been
Exploration Results reported
is not practicable,
representative
reporting of both
low and high grades
and/or widths
should be practiced
to avoid misleading
reporting of
Exploration
Results.

Other substantive Other exploration All relevant
exploration data, if meaningful exploration data is
data and material, shown on figures,
should be reported in text and
including (but not Annexure 1.
limited to):
geological
observations;
geophysical survey
results;
geochemical survey
results; bulk
samples - size and
method of
treatment;
metallurgical test
results; bulk
density,
groundwater,
geotechnical and
rock
characteristics;
potential
deleterious or
contaminating
substances.

Further work The nature and scale Cassini and its
of planned further partner OZ Minerals
work are currently
( undertaking
eg tests for lateral advanced scoping
extensions or depth study work at the
extensions or West Musgrave
large-scale Project. Further
step-out drilling). resource definition
drilling is likely
to be conducted
Diagrams clearly during a
highlighting the pre-feasibility
areas of possible study in
extensions, conjunction with
including the main regional
geological exploration
interpretations and programs including
future drilling reconnaissance
areas, provided drilling and
this information is geophysics.
not commercially
sensitive. All relevant
diagrams and
inferences have
been illustrated in
this report.

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